The information below relates to the Cash account in the ledger of Wildhorse Company. Balance September 1—$17,180; Cash deposited—$64,400. Balance September 30—$17,764; Checks written—$63,816. The September bank statement shows a balance of $16,782 on September 30 and the following memoranda. Credits Debits Collection of $1,670 note plus interest $40 $1,710 NSF check: Richard Nance $605 Interest earned on checking account $55 Safety deposit box rent $75 At September 30, deposits in transit were $4,630, and outstanding checks totaled $2,563. Prepare the bank reconciliation at September 30. (List items that increase cash balance first. Reconcile cash balance per bank first.)
The information below relates to the Cash account in the ledger of Wildhorse Company. Balance September 1—$17,180; Cash deposited—$64,400. Balance September 30—$17,764; Checks written—$63,816. The September bank statement shows a balance of $16,782 on September 30 and the following memoranda. Credits Debits Collection of $1,670 note plus interest $40 $1,710 NSF check: Richard Nance $605 Interest earned on checking account $55 Safety deposit box rent $75 At September 30, deposits in transit were $4,630, and outstanding checks totaled $2,563. Prepare the bank reconciliation at September 30. (List items that increase cash balance first. Reconcile cash balance per bank first.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The information below relates to the Cash account in the ledger of Wildhorse Company.
The September bank statement shows a balance of $16,782 on September 30 and the following memoranda.
At September 30, deposits in transit were $4,630, and outstanding checks totaled $2,563.
| Balance September 1—$17,180; | Cash deposited—$64,400. | |
| Balance September 30—$17,764; | Checks written—$63,816. |
The September bank statement shows a balance of $16,782 on September 30 and the following memoranda.
|
Credits
|
Debits
|
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|---|---|---|---|---|---|---|
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Collection of $1,670 note plus interest $40
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$1,710 |
NSF check: Richard Nance
|
$605 | |||
|
Interest earned on checking account
|
$55 |
Safety deposit box rent
|
$75 |
At September 30, deposits in transit were $4,630, and outstanding checks totaled $2,563.
Prepare the bank reconciliation at September 30. (List items that increase cash balance first. Reconcile cash balance per bank first.)
|
Wildhorse Company
Bank Reconciliation choose the accounting period |
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select an opening name for section one (Cash balance per bank statement/ Deposits in transit/ Outstanding checks/ Collection of note receivable/ Bank service charge/ Adjusted cash balance per bank/ Interest earned/ NSF check/ Safety deposit box rent/ Adjusted cash balance per books/ Cash balance per books)
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$ ?
|
||||
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select between addition and deduction AddLess:
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select a reconciling item (Cash balance per bank statement/ Deposits in transit/ Outstanding checks/ Collection of note receivable/ Bank service charge/ Adjusted cash balance per bank/ Interest earned/ NSF check/ Safety deposit box rent/ Cash balance per books/ Adjusted cash balance per books)
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enter a dollar amount
|
|||
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enter a subtotal of the two previous amounts
|
|||||
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select between addition and deduction LessAdd:
|
select a reconciling item (Cash balance per bank statement/ Deposits in transit/ Outstanding checks/ Collection of note receivable/ Bank service charge/ Adjusted cash balance per bank/ Interest earned/ NSF check/ Safety deposit box rent/ Cash balance per books/ Adjusted cash balance per books)
|
enter a dollar amount
|
|||
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select a closing name for section one (Cash balance per bank statement/ Deposits in transit/ Outstanding checks/ Collection of note receivable/ Bank service charge/ Adjusted cash balance per bank/ Interest earned/ NSF check/ Safety deposit box rent/ Adjusted cash balance per books/ Cash balance per books)
|
$ total
|
||||
|
select an opening name for section two (Cash balance per bank statement/ Deposits in transit/ Outstanding checks/ Collection of note receivable/ Bank service charge/ Adjusted cash balance per bank/ Interest earned/ NSF check/ Safety deposit box rent/ Cash balance per books/ Adjusted cash balance per books)
|
$ ?
|
||||
|
select between addition and deduction AddLess:
|
|||||
|
select a reconciling item (Cash balance per bank statement/ Deposits in transit/ Outstanding checks/ Collection of note receivable/ Bank service charge/ Adjusted cash balance per bank/ Interest earned/ NSF check/ Safety deposit box rent/ Cash balance per books/ Adjusted cash balance per books)
|
$ ?
|
||||
|
select a reconciling item (Deposits in transit/ Outstanding checks/ Cash balance per books/ Collection of note receivable/ Bank service charge/ Adjusted cash balance per books/ Interest earned/ NSF check/ Safety deposit box rent/ Cash balance per bank statment/ Adjusted cash balance per bank)
|
$ ? | ||||
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subtotal of the two previous amounts
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|||||
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total amount for the first part
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|||||
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Less/Add:
|
|||||
| select a reconciling item (Deposits in transit/ Outstanding checks/ Cash balance per books/ Collection of note receivable/ Bank service charge/ Adjusted cash balance per books/ Interest earned/ NSF check/ Safety deposit box rent/ Adjusted cash balance per bank/ Cash balance per bank statment) |
enter a dollar amount
|
||||
|
select a reconciling item (Deposits in transit/ Outstanding checks/ Cash balance per books/ Collection of note receivable/ Bank service charge/ Adjusted cash balance per books/ Interest earned/ NSF check/ Safety deposit box rent/ Adjusted cash balance per bank/ Cash balance per bank statment)
|
enter a dollar amount | ||||
| enter a subtotal of the two previous amounts | |||||
|
select a closing name for seciton two (Deposits in transit/ Outstanding checks/ Cash balance per books/ Collection of note receivable/ Bank service charge/ Adjusted cash balance per books/ Interest earned/ NSF check/ Safety deposit box rent/ Adjusted cash balance per bank/ Cash balance per bank statment)
|
$enter a total amount for section two
|
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